Recap: BOE, ECB Rate Decisions

There were holding actions from both the Bank of England and the European Central Bank on interest rates.

There was no change at all to monetary policy and, in the ECB’s case, a rather glum look at prospects for European growth along with continued, front-and-center urging of reform on euro-zone member states.

Both central banks did as the markets expected, so the impact on asset prices has been extremely scant. Both remain hostage to the extremely hard-to-read growth picture in their areas of responsibility, but the ECB, at least seems to be focused on the downside.

There could yet be more QE ahead from the BOE, and lower rates from the ECB, but more growth and inflation data are clearly required.

Brian Blackstone in Frankfurt and David Cottle in London live-blogged the announcements.

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